The bank said Russia's decision to cut oil output would likely narrow its trade surplus and that the move could have an adverse impact on Russia's gross domestic product (GDP) in the second quarter and beyond. The central bank's key rate is currently set at 7.5%. It next meets on rates on March 17. (Reporting by Elena Fabrichnaya; Writing by Alexander Marrow Editing by Gareth Jones)
MOSCOW, March 7 (Reuters) - Russia's central bank said
on Tuesday economic activity rose in January-February but
inflationary pressure also increased, something it said could
warrant tighter monetary policy, with its next rate-setting
meeting just over a week away.
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